Rate Rating Agencies, Official Suggests

September 2, 1991

Apparently fed up with some insurance ratings agencies and their power to send policyholders scrambling for security, North Dakota Insurance Commissioner Earl Pomeroy is reportedly ready to give the agencies some of their own medicine.

Rate the raters, he says, according to a recent edition of National Underwriter, an insurance industry trade journal.

The National Association of Insurance Commissioners, of which Pomeroy is a former president, ``should develop criteria for evaluating the raters and withhold insurer financial data from any that don`t measure up,`` the trade journal reports.